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Mining XMR / Monero Coin.

Mining XMR / Monero Coin.

Not much of a miner to be honest. I tend to just let the PC mine for a few hours here and there if I am going out and need to leave PC on.
By no means do I mine daily, often go days and forget to mine anything but I noticed recently (after someone on a group mentioning it) that the XMR difficulty had dropped or had an adjustment so I thought I would give it a try.

Long story short if you have a decent GPU give it a go. I mined almost $10 in sporadic mining over a couple of weeks and my GPU isnt all that, so if any of you gaming monkeys have a ti1080 you could make a tidy little investment depending on your leccy costs. Electricity I claim back as working from home :-)

For any interested I use Claymores Cryptonote Miner for AMD cards but I think there is an Nvidea version. For a mining Pool I use Minergate but most seem to use Nicehash.
You can then withdraw your mined XMR to whatever exchange, I use hitBTC and then trade it for Bitcoin or any alt coin if you fancy a gamble.

I would assume that with a ti1080 you could probably mine what I did in a day, I am just using an average Radeon.

I might keep withdrawing until I have enough funds for a top Nvidia. No need to run it by the Mrs then ;-)

On a side note. With a good GPU you could mine about 500-1000 Bytecoins in a day. (NOT Bitcoins). These are currently worthless but no harm in chucking 10,000 in a wallet and sitting on em for a few years. You never know.

Re: Mining XMR / Monero Coin.

Re: Mining XMR / Monero Coin.

Originally Posted by Mobileman

Hmmm will take looks at this I have two pc always on anyway but had heard something about hdd mining

Sent from my iPhone using Tapatalk

Yeah HDD mining is another coin although I have watched it on exchanges and that too is worthless... for now.
The other alt to mining is coins that give interest.
So the old method is you mine (verify transactions) and are rewarded or have the chance to be rewarded with a bit of said coin.
Another method that is starting to appear is you don't mine as in hammer your CPU/GPU doing this but invest in a large amount of coins, eg 1,000,000.
These millions of coins (which may only cost you £10) are staked whilst the wallet is open and online using much less resources. No GPU and very little CPU and depending on the 'weight' of the wallet
which is worked out by amount of coins owned to network difficulty you receive a large, often 200% interest every few days.

Sounds a bit dodgy to me so keeping half an eye on it for now.

Edit: to add. The problem with me for HDD mining is as soon as I get a new HDD, I quickly fill it up with useless shite. You need empty HDD's afaik...

Re: Mining XMR / Monero Coin.

Been toying with the idea of mining for ages, leccy aint a problem as the rig would be sat in the server room at work.
It's just not knowing which coins to mine and is it really worth the risk against spending £1200 on a 5 card rig

Re: Mining XMR / Monero Coin.

Originally Posted by consoles

Been toying with the idea of mining for ages, leccy aint a problem as the rig would be sat in the server room at work.
It's just not knowing which coins to mine and is it really worth the risk against spending £1200 on a 5 card rig

I would say XMR atm. There are two mining pools that offer "smart mining", [Only registered and activated users can see links. ]and NichHash. I use the first. What the Smart mining does is automine which ever currency has the best exchange rate against Bitcoin in the last hour and also it calculates against the current network difficulty of the coin to work out which currency is the most profitable to mine.
For the last few weeks it has been XMR constantly.

It has a nice GUI miner that has the Auto Mining feature, however you do get better hash rates using the command line miner and even better using Linux.
I periodically check the gui to see most profitable coin and then mine it using CLI miner. The hash rates aren't much different if you prefer the GUI though.

If you have free electric then I would have a blast.. it is the leccy costs that ruin it.